QBE Insurance’s Post

EXCLUSIVE:AIG names Connelly head of NA distribution as part of broader reshuffle Learn more👇 https://lnkd.in/e5dS85K5 AIG has announced a reshuffle within its management ranks that includes the head of field ops for North America Joe Connelly taking additional oversight of distribution, and the firm’s retail property head in the region Duncan Ellis being named head of North America retail distribution, The Insurer can reveal. #PeopleMoves #insurance #reinsurance #insurancemarket #reinsurancemarket #insurancenews #reinsurancenews

Claims made easy! Rest assured, you will receive your money promptly when you find yourself unable to work due to an injury or illness. Our efficient claims process ensures that you don't have to wait for a long time to get the financial support you need. We understand the importance of timely assistance, especially when you are facing challenging circumstances. Our dedicated team of experts is here to guide you through the entire claims process and provide you with the necessary support and information. You can trust us to handle your claim with professionalism and empathy, ensuring that you receive the compensation you deserve.

At the latest Logistics Leaders Conference, we were fortunate to have Ennis Pleasants, Cargo Claims Manager at Great American Insurance Group, join us. During our session on claims handling, Ennis shared an impressive fact: once a claim is reported, Great American Insurance Company aims to make contact within just TWO hours! Impressively, 85% of their claims receive a response within that tight timeframe. Want to know how they manage to maintain such rapid response times? Dive into the intricacies of their efficient process! 🕒 Thank you, Ennis Pleasants, for enlightening us on the importance of swift and effective claims handling! 🚚💼 #LogisticsLeaders #ClaimsHandling #GreatAmericanInsurance #Logistics #SupplyChain

Life changes. Your client's life insurance should too. Learn how DBS can help! #Change #LifeInsurance #Wecanhelp #Financial https://loom.ly/A4b6_Ss

How do you achieve customer enthusiasm? For Phillip Ingenhaag, ERGO sales partner from near Cologne, the answer is clear. He wants to create a "wow" effect with his customers. 🤩 But how does he do that? Primarily through his service and that of his team, and through ERGO's performance. What's important here is the behavior in the event of a claim. Many of his customers were affected by the flood disaster in the summer of 2021, when Ingenhaag was able to demonstrate what real customer service means. Quick help and simple claims settlement, without a lot of bureaucracy, that produced the "wow" effect among his customers. In our new episode of ERGO #LifeStories, he explains what customers expect from him and how he adapts to them. You can find the complete video and further information here: https://lnkd.in/eyUT5J93 #insurance #customercentricity #teamERGO

Brit Insurance H1 Martin Thompson "I am pleased to report a strong overall performance for the first half of 2024, with an undiscounted combined ratio of 80.5% (restated 30 June 2023: 82.3%), discounted combined ratio of 70.1% (restated 30 June 2023: 72.0%), and a profit before tax from continuing operations of $362.4m (restated 30 June 2023: $300.0m). These results reflect our clear strategic focus on driving performance and profitability rather than targeting overall premium growth. Looking ahead to the second half of the year and beyond, our diversified and balanced portfolio makes us well placed to benefit from the breadth of Brit’s underwriting and our strong relationships, while remaining mindful of evolving market dynamics. Our strategy, positioning and unique culture gives me great confidence in the outlook for Brit." https://lnkd.in/ekVriHze..

If your business needs a little help and guidance in streamlining your processes and employee handbook, onboarding and training, get yourself some MOXIE! She’s the best!

From offering a superior agent experience to industry specialization—here are 5 ways carriers can grow in #SmallCommercialInsurance.

🤔 ❓Of Insurer Depts, Is Claims Sometimes Held to Higher Standard? 🥁 ⚖ If you have been in/around claims a few decades or more, you have seen things that make you go hmmm. Like the Thai restaurants I dine at, add your spicey level (colorful language) preference 🌶 – 🌶 🌶 🌶 🌶 🌶 . As we start digging in, we often find that what was done and how a problem was addressed is exactly how you would have addressed it. Sitting in insurer board meetings, handling claims audits, or working through litigated matters, the magnifying glass is on the claims department. Sometimes there is a claims problem that has been identified that needs to be addressed and corrected. Other times, my thoughts go to “Claims wasn’t set up for success on this one.” I have heard too many times that, even if just implied, Claims holds the purse strings insinuating Claims owns the problem. For the record, I don’t completely agree with that statement and could talk for hours on this. #ContextMatters When I find something that was clearly overlooked, I’m often asked by Claims or Counsel, “How did this happen?" or “How did we get here?” Depending on my role I might or might not want to get into the details. In one instance, I used the image below, and linked here for proper credit (https://lnkd.in/eyMMhyjD), to add some context. As I walked through some of the hiccups, I applied the 2020 lens that catastrophe adjusters didn’t have time to catch their breath. Mistakes were made… In this instance and on my recommendation more was paid, and the matter resolved very amicably ahead of trial. When I identify problems related to underwriting, producers, or anything outside of claims I don’t always have the ability to apply the “Busy Catastrophe Year” lens for context. Are my thoughts that Claims might be held to a higher standard simply because of my decades in claims? I’d love to hear from those in and outside of claims on this, even if by DM or via phone. I expect those in other lanes see this differently. I’d love to see through some of the other lenses. Have a Great Week!

On Monday February 26, 2024, the Colorado Supreme Court announced it will consider whether, following unsuccessful settlement attempts, an insurer’s refusal to pay noneconomic damages for a policyholder’s uninsured motor (UIM) claim violated state statute, given what the insurer said is the “inherently subjective” nature of such damages. In Fear v. Geico Casualty Co., Geico conducted an internal evaluation to determine a “negotiation range” for noneconomic damage coverage following a vehicle accident resulting in two settlement offers upon the condition their insured accepted the offers as fully satisfying his UIM claim. The insured did not accept the settlement offers, claiming the conditions violated Colorado’s unreasonable claim delay statute because—according to precedent—an insurer cannot withhold undisputed portions of an insured’s UIM claim when other portions are in dispute. Following a bench trial ruling against Geico, an appeals panel ruled the trial court erred in relying on Geico’s internal evaluation range to determine noneconomic damages resulting in a petition to the high court.    The insured agrees with the appeals panel that an insurer’s claim evaluation “can never reflect the insurer’s actual, subjective opinion of value of an insured’s UIM claim.” Nevertheless, the insured argues it is impossible for an insurer to discharge its duty to pay covered benefits in good faith without first determining the amounts of covered benefits and failure to determine policy benefits is unreasonable conduct under state law. Geico asserts an insurer satisfies their statutory bargaining tactic obligations by making internal claim evaluations and it would be illogical to protect the end result of an insurer’s initial evaluation process without also protecting the assessment that led to the evaluation. Further, Geico alleges the insured’s mischaracterization of the estimated values as undisputed amounts attempts to shift the burden of proof and interfere with the fact finder’s role. The pending decision will establish state precedent for future disputes involving noneconomic damage coverage for UIM claims. https://lnkd.in/ePtyNTW2